Version Superseded: 27/04/2017
Point in time view as at 01/09/2003. This version of this provision has been superseded.
Income Tax (Earnings and Pensions) Act 2003, Section 103 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)The cash equivalent is calculated—
(a)under section 105 if the cost of providing the living accommodation does not exceed £75,000; and
(b)under section 106 if the cost of providing the living accommodation exceeds £75,000.
(2)Section 104 (general rule) sets out how to calculate the cost of providing living accommodation for the purpose of determining whether or not it exceeds £75,000.
(3)In this Chapter—
“annual value”,
“person involved in providing accommodation”, and
“the property”,
have the meaning given by sections 110 to 113, and “the taxable period” has the meaning given by section 102(2).
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